Fundamental challenges faced by organizations in protecting its assets and information
Challenges and exposures faced by an organization with respect to protecting its assets and information are as follows;
Identity theft: Involves impersonating someone through name, social security number, addresses etc., so as to obtain documents and credit in the victim’s name i.e., driving license, bank accounts, mortgages, bank loans and other items. According to the Federal Trade Commission, identity theft rose by nearly 40% from 2001 to 2002 and shot up 81% between 2002 and 2003. Identity thieves may employ several methods to obtain the needed information such as shoulder surfing, snagging, dumpster diving and social engineering etc.,
Spywares: Software designed to track user’s activities and report them to someone else. It is commonly installed on a computer without the user’s knowledge and collects information without permission. It may enter the system through web pages, email messages, and pop-up ads etc. It can record individual keystrokes and is therefore a significant risk to data security.
Loss of privacy: It is not unusual for commercial enterprises to log the data of customer purchases in its database. Most of the organizations not only use this data to aid in their marketing plan but also sell it to other corporations. As a result, consumer’s medical, financial and credit records are available to anyone authorized to view them, making the data vulnerable to misuse.
Hardware theft & vandalism: